Retail News

  A push by the US to drastically reduce its reliance on mainland China has forced Hong Kong exporters to sever some ties at home and over the border, with firms also cutting down on imports of raw materials due to threats of boycotts, industry leaders have told the Post. But a shippers’ organisation said moves to diversify away from the country would not be easy, as it was an integral part of the global supply chain and difficult to replace. Amid the disruption, manufacturers and brands both locally and abroad said they had to face new business realities, some of which required overhauling operations. Dennis Ng Kwok-on, vice-president of the Chinese Manufacturers’ Association of Hong Kong, told the Post that the United States had started to ask local exporters who recently moved...

  New Delhi: The government is aiming to position itself as a textile sourcing and investment destination through seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks with an investment of ₹70,000 crore in the next 5 years, said textile secretary Rachna Shah. The government is looking to attract foreign direct investment (FDI) through PM MITRA and several other schemes. “We are hopeful that seven PM MITRA parks will emerge as growth centres in the textile sector, seeking the support of global investment players to invest in India and source textile from India," Shah said. The ministry is also focusing on increasing footprints in technical textiles, which is a growing market. Currently, India is exporting technical textiles, including medical...